In 2023, China led global direct transfers to fossil fuels at $21.32 billion with a slight decline. Mexico, with significant increases, followed at $11.47 billion. Notable declines were evident in India, Brazil, and the United States. The United Kingdom saw a dramatic increase of 226.17%. Smaller economies like Armenia and Canada experienced substantial growth. Variations suggest an overall moderate contraction in major economies, while select regions and smaller countries faced substantial fluctuations.
Future trends to watch include policy shifts towards renewables impacting direct subsidies, potential economic recovery driving fossil fuel demand, and geopolitical factors influencing energy distribution and transfers globally.
Top countries in Direct Transfer on All Fossil Fuels for All Beneficiaries or Sectors by Country
| # | 10 Countries | Million US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 21,320 | 2023 | -0.7% | -1.35% | View data |
| 2 | 2 Mexico | 11,470 | 2023 | +25.87% | +42.5% | View data |
| 3 | 3 Argentina | 5,590 | 2023 | +9.04% | -5.26% | View data |
| 4 | 4 Japan | 2,160 | 2023 | -2.28% | +2.45% | View data |
| 5 | 5 India | 2,040 | 2023 | -16.99% | -20.93% | View data |
| 6 | 6 Italy | 1,980 | 2023 | +7.69% | +2.65% | View data |
| 7 | 7 Germany | 1,860 | 2023 | -3.66% | -1.82% | View data |
| 8 | 8 Brazil | 1,810 | 2023 | +2.75% | -10.97% | View data |
| 9 | 9 South Africa | 1,740 | 2023 | +3.8% | +8.94% | View data |
| 10 | 10 Ukraine | 1,710 | 2023 | -4.76% | -6.77% | View data |
